Chapter 7 vs. Chapter 13

Filing for Bankruptcy in Jacksonville

Should I File for Chapter 7 or Chapter 13?

One of the first questions we get at our firm when a person is in debt
and considering filing for bankruptcy is about the details of both Chapter
7 and Chapter 13 bankruptcy. At Ruff & Cohen, our Jacksonville bankruptcy
lawyers are knowledgeable about all of the differences between these chapters
of bankruptcy. With more than 60 years of combined experience, we can
sit down with you to decide which chapter is right for your unique situation.
You can rely on us to provide you with exceptional legal guidance and
representation.

Debt Relief vs. Debt Reorganization

The most simple way to explain the differences between Chapter 7 vs. Chapter
13 is that one revolves around debt relief and the other around repayment
or reorganization. With our extensive knowledge and resources in the field
of bankruptcy law, we can help you get through this difficult financial
time. You can trust our Jacksonville bankruptcy lawyers and team to represent
your best interest and guide you in the right direction.

The differences between Chapter 7 and Chapter 13 are as follows:

Chapter 7: Also known as a debt relief plan, Chapter 7 focuses on your
unsecured debts, such as credit card, medical, and other bills. It is
much quicker than any other chapter of bankruptcy and can provide you
with nearly immediate relief.

Chapter 13: Also known as a reorganization or repayment plan, Chapter 13
focuses on your secured debt, such as mortgage, vehicles, and other large
assets. Although this does not provide immediate relief, it does allow
you to pay back your debt over time.

Schedule a Free Consultation!

The next step is to meet with a Jacksonville bankruptcy lawyer to discuss
your needs and learn how we can help. Please give us a call today at (352) 376-3601
to make an appointment for a free consultation.